We study a commonly-used second-kind boundary-integral equation for solving the Helmholtz exterior Neumann problem at high frequency, where the relevant integral operators map $L^2(\Gamma)$ to itself, where $\Gamma$ is the boundary of the obstacle. We prove new frequency-explicit bounds on the norms of both the integral operator and its inverse. The bounds on the norm are valid for piecewise-smooth $\Gamma$ and are sharp, and the bounds on the norm of the inverse are valid for smooth $\Gamma$ and are observed to be sharp at least when $\Gamma$ is curved. Together, these results give bounds on the condition number of the operator on $L^2(\Gamma)$; this is the first time $L^2(\Gamma)$ condition-number bounds have been proved for this operator for obstacles that are not a ball.